What is considered too excessive betting/gambling?

[robfosters]

Regret. That is the number one rule with gambling.

Once you regret the money you've lost, that's it, it's too much. Gambling is a pastime. Win or lose, it should be fun and not impact your life.

 

[asim18]

Being profitable doesn't tell the whole story because they are looking for risk factors, and somebody who makes frequent gambling deposits will be deemed a higher risk (i.e. might they reach a situation in the future where they cannot afford to pay their mortgage).

I used to sometimes deposit a couple of grand a month but have reined that in as may need to apply for a mortgage this year.

If I were a "risk assessor" and saw someone had been gambling a fixed amount every month for the past 10 years I'd immediately think this guy is highly disciplined and has good self control. Gambling should always be considered entertainment, never a way of making money, and if you have a fixed budget for "entertainment" out of every wage then there's nothing wrong with that.

But yeah if someone's losing their "budget" month after month they should probably consider finding another form of entertainment. Unless they believe it's a form of making money.

 

[Pawnless Endgame]

OP, what sort of gambling do you do?

If it's something like fruit machines, poker or bingo, then that's not too bad. It's roulette that you have to stay away from. They regard the Devil Wheel as being the crack cocaine of gambling!

 

[Bassmansam]

OP, what sort of gambling do you do?

If it's something like fruit machines, poker or bingo, then that's not too bad. It's roulette that you have to stay away from. They regard the Devil Wheel as being the crack cocaine of gambling!

Football bets.

 

[Vonhelmet]

I'll bet plenty of people spend a decent amount on the lottery and scratch cards and the like, which might not show up so clearly on a bank statement.

 

[booyaka]

£50 a week seems like a lot to me.
That's £2500 a year if you lose it all.

saying that - I bet most people spend £50 on a night out a week - therefore drink £2500 a year so in effect it's the same thing.

I doubt they will bother with £50 a week - they are looking for your average cash balance, do you go into your overdraft, any loan payments etc - they won't bother that you pay £50 a week to skybet etc - you could have a balance of £3k in skybet but they won't know.

 

[Tuppy_Glossop]

£50 a week is only a problem if you can't afford it.

 

[Big Spender]

I have recently got into matched betting. I've got a 2nd bank account I don't use to put £100 into there at the start and that was it. Not had to deposit any more money out of my own pocket as i just keep recycling the winnings from the matched betting

 

[Ayahuasca]

I was fine when I applied with 1.5k deposits to William Hill.

 

[antijoke]

When you can't even sit down for a cheeky Nandos without hopping into an app to place a few bets.

 

[Semple]

Regret. That is the number one rule with gambling.

Once you regret the money you've lost, that's it, it's too much. Gambling is a pastime. Win or lose, it should be fun and not impact your life.

I regret losing a £5 bet on the grand national. Thankfully it's one thing that steers me completely away from gambling. I suspect most people rarely break even, so the thought of losing money just by chance puts me off. Granted one day you might have a bit of luck and make a considerable win.

But it's at what point you stop, they say lightning doesn't strike twice in the same place, so chances of winning again are going to be slim.

 

[Bassmansam]

I regret losing a £5 bet on the grand national. Thankfully it's one thing that steers me completely away from gambling. I suspect most people rarely break even, so the thought of losing money just by chance puts me off. Granted one day you might have a bit of luck and make a considerable win.

But it's at what point you stop, they say lightning doesn't strike twice in the same place, so chances of winning again are going to be slim.

Betting on one horse to bet when there are 30+ options, no surprise you lost lol.

 

[Zethor]

Any amount of gambling is excessive, you always lose when you go against mathematics.

 

[dowie]

Any amount of gambling is excessive, you always lose when you go against mathematics.

Your second statement doesn't justify the first - what about gambling when the odds are in your favour?

 

[Zethor]

Your second statement doesn't justify the first - what about gambling when the odds are in your favour?

Such as?

 

[dowie]

Such as?

What do you mean? Are you asking where some people might get a positive expectation when gambling?

Poker, blackjack, sports betting and financial bets are some examples

 

[Big Spender]

What do you mean? Are you asking where some people might get a positive expectation when gambling?

Poker, blackjack, sports betting and financial bets are some examples

look up matched betting.

 

[dowie]

look up matched betting.

why?

 

[terley]

I'd say anything more than a few quid here or there unless you are planning on losing money is too much.

I.e. when i went to vegas, i took £700 that i had every notion that i was happy losing.

 

[Zethor]

What do you mean? Are you asking where some people might get a positive expectation when gambling?

Poker, blackjack, sports betting and financial bets are some examples

Depends on how you define gambling but generally speaking, if the odds are in your favour I consider it an investment with a certain risk factor, rather than gambling. In a casino, the house is not considered a gambler, the player is because the odds are in the house's favour.